Alexander's, Inc.

ALX

$264.10

+0.34%

N/A+$0.90

Real Estate

REIT - Retail

NYSE

Active Trading

Alexander’s, Inc. is a real estate investment trust (REIT) engaged in leasing, managing, developing and redeveloping properties. Alexander’s activities are conducted through ...

Fundamental Analysis of ALX

Key Strengths

Prime real estate portfolio in the New York City metropolitan area with high-value assets.

High net profit margin of 79.1% supported by strategic asset management and gains.

Risk Factors

High financial leverage with a debt-to-equity ratio of 3.73, increasing vulnerability to interest rate hikes and economic downturns.

Geographic concentration in the NYC area exposes the company to local economic and regulatory changes.

Profitability

Net Margin79.06%

Operating Margin28.61%

Valuation

P/E Ratio7.96x

Current Ratio16.17

Efficiency

ROE123.09%

ROA14.12%

Fundamental Analysis of ALX

Alexander's, Inc. is a real estate investment trust (REIT) focused on a concentrated portfolio of seven retail properties in the New York City metropolitan area. The company's primary asset base includes properties such as the Rego Park Center and the 731 Lexington Avenue mixed-use development, which provides a stable income stream from high-quality tenants. As of the latest TTM data, the company reported a net profit margin of 79.1%, driven by significant gains from property sales or revaluation, which boosts reported earnings but may not be recurring. The price-to-earnings ratio stands at 8.13, suggesting that the stock is trading at a relatively low multiple of earnings, which could indicate undervaluation or reflect concerns about the sustainability of earnings. The company's return on equity is exceptionally high at 123.1%, but this is partly due to a low equity base from high leverage. The debt-to-equity ratio is 3.73, indicating substantial financial leverage, which increases risk. Revenue and FCF growth rates are not available in the provided data, but the company has shown resilience in its operations. The stock currently offers a dividend yield of 6.7%, with a payout ratio of 68%, making it attractive for income investors. However, the geographic concentration and sensitivity to interest rates and retail market conditions are key risks. Please note that some financial metrics (e.g., current ratio, quick ratio) are marked as null due to data unavailability, and growth rates are not provided in the user's data. The analysis relies on TTM metrics and qualitative factors from available sources.

Key Strengths of ALX

Prime real estate portfolio in the New York City metropolitan area with high-value assets.
High net profit margin of 79.1% supported by strategic asset management and gains.
Strong dividend yield of 6.7% with a payout ratio of 68%, appealing to income-focused investors.
Low price-to-earnings ratio of 8.13 compared to the broader market, potentially indicating undervaluation.
Stable tenant base and long-term leases provide predictable cash flows.
Expert management team led by CEO Steven Roth, with deep industry experience.
Solid EBITDA margin of 118.7% (as per data) indicating strong operational efficiency.
Low beta of 0.743, providing some insulation from market volatility.

Risk Factors of ALX

High financial leverage with a debt-to-equity ratio of 3.73, increasing vulnerability to interest rate hikes and economic downturns.
Geographic concentration in the NYC area exposes the company to local economic and regulatory changes.
Reliance on retail sector performance, which faces secular headwinds from e-commerce and changing consumer behavior.
The high net margin may not be sustainable if it includes one-time gains from property sales or revaluation.
Negative free cash flow to equity (FCFE) of -312 million USD indicates potential cash flow pressure for equity holders.
Interest coverage ratio of 1.24 is low, suggesting limited ability to cover interest expenses from operating income.
The company's operating margin of 28.6% is lower than its net margin, implying significant non-operating gains.
Current ratio and quick ratio are zero, but this may be industry-specific for REITs with low current assets.

Market Cap vs Revenue & Earnings

Earnings

n/a

Revenue

n/a

Market cap

$1.35B

8.0x

P/E Ratio

6.3x

P/S Ratio

Earnings & Revenue

Last Reportedn/a

Earnings per share (EPS)n/a

Gross Margin64.10%

Net Profit Margin79.06%

Debt/Equity Ratio3.83

Profitability Bridge (Current vs YoY)

How gross, operating and net margins shifted versus last year.

Revenue / Net Income / FCF History (USD B)

Growth Signals of ALX

Metric	Current	Previous	YoYYear-over-Year change: current quarter versus the same quarter last year.	QoQQuarter-over-Quarter change: current quarter versus the immediately previous quarter.	Signal
Revenue	—	—	—	—	Flat
Diluted EPS	—	—	—	—	Flat
Free Cash Flow	—	—	—	—	Flat

Profitability of ALX

Metric	Current	Previous	YoYYear-over-Year change: current quarter versus the same quarter last year.	QoQQuarter-over-Quarter change: current quarter versus the immediately previous quarter.	Signal
Net Margin	—	283.97%	—	—	Flat
Operating Margin	—	30.11%	—	—	Flat
ROE	—	—	—	—	Flat

Financial Health of ALX

Metric	Current	Previous	YoYYear-over-Year change: current quarter versus the same quarter last year.	QoQQuarter-over-Quarter change: current quarter versus the immediately previous quarter.	Signal
Current Ratio	—	16.174	—	—	Flat
Quick Ratio	—	16.174	—	—	Flat
Debt / Equity	—	3.831	—	—	Flat

Valuation of ALX

Metric	Current	Previous	YoYYear-over-Year change: current quarter versus the same quarter last year.	QoQQuarter-over-Quarter change: current quarter versus the immediately previous quarter.	Signal
P/E	—	2.28x	—	—	Flat
P/B	—	6.33x	—	—	Flat

Supply Chain of ALX

RELATIONS

Upstream

Vornado Realty TrustNYSE:VNOCesar Pelli & Associates / Pelli Clarke Pelli ArchitectsVarious Construction General Contractors (via Vornado)Various Property Service Vendors (via Vornado)Vornado Realty L.P. Subcontractors

Downstream

Bloomberg L.P.The Home Depot, Inc.NYSE:HDIKEA (Ingka Group)Marshalls (The TJX Companies, Inc.)NYSE:TJX Bank of America CorporationNYSE:BACH&M Hennes & Mauritz ABOMX:HM-BNorthwell Health, Inc.The Alexander Apartment Tower ResidentsLäderach Chocolatier Suisse

Proxies

Vornado Realty TrustNYSE:VNO SL Green Realty Corp.NYSE:SLG Empire State Realty Trust, Inc.NYSE:ESRT

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Plutux is not an investment adviser. Market data and AI-generated analysis are for information and education only, not investment advice. Disclaimer